Below are the key morning headlines from today’s papers, featuring the Financial Times, The Times, The Telegraph, The Daily Mail & more - see the full Press section here.
- Mike Ashley, the boss of Sports Direct International (SPD) , is set to turn his hand to becoming a luxury property developer in one of London’s most exclusive neighbourhoods. A luxury residential scheme in Chelsea, backed by Mr Ashley, has moved a step closer to being developed. The Times has learnt that JLL, a property consultant, has been appointed to advise on all options for the site, known as the Clearings on Draycott Avenue. This could include running a process to find a high-class developer to build the 78 luxury-flat scheme in a joint venture.
- Time is running out for BAE Systems (BA.) to confirm a long-awaited deal to sell Typhoon fighters to Qatar. Gavin Williamson, the Defence Secretary, and his Qatari counterpart unveiled the £5bn contract for 24 of the jets, together with a package of support and training, in December. However, the final terms are yet to be confirmed and the sale has already been pushed back once. BAE originally said the sale was “subject to financing conditions and receipt of first payment, expected no later than mid-2018”.
- Hedge funds that made millions betting on the demise of Carillion have turned up the pressure on fellow construction giant Kier Group (KIE) . The Bedfordshire-based builder has seen the proportion of its shares on loan to short sellers surge to 18% as of Friday, up from 10% one month ago, according to data from IHS Markit, leaving the stock among the most shorted on the main London market.
- BP (BP.) to use crime-scene imaging to manage oilrig work remotely. The oil giant said that it was rolling out the sophisticated 360-degree imaging programme across the majority of its platforms worldwide after successful deployment in the North Sea. The technology was originally developed by police in Scotland for use in crime scene investigations, allowing detectives to virtually revisit a crime scene long after it has had to be cleared up.
- Investec (INVP) to give asset manager free rein. The London stock market’s small club of listed asset managers is to gain a new member after the South African financial group Investec revealed plans to spin off its funds division.
- An internal report by HBOS-owner Lloyds Banking Group (LLOY) that was leaked earlier this year claimed HBOS directors, including then chief executive Andy Hornby, knew his staff were ruining small businesses for their own personal gain. A group of MPs have now called on police to conduct a fresh probe into the fraud to ensure all of those involved in the scandal are held accountable.
- ITV tables bold bid for Endemol, Dutch maker of Big Brother. ITV (ITV) has entered the bidding for Endemol Shine, the $4 billion (£3 billion) independent production giant behind programmes such as Big Brother, The Fall, MasterChef and Peaky Blinders.
- Thousands of jobs at risk as Tesco (TSCO) plans to axe stores. Tesco is planning to shut a raft of city centre stores and convert dozens of others to Jack’s, its new discount format, in a move that will put thousands of jobs at risk.
